By InvestAdvocate

Lagos (INVESTADVOCATE)-Following the public holidays, equities trading commenced on a bullish note on the Nigerian Stock Exchange (NSE), as the all-share index advanced 0.76 percent to close at 26,688.25 points.

”As the market looks set to finish December in style, today’s rally increased the Month-to-Date gain to 5.31 percent, while it reduced the Year-to-Date loss to 7.04 percent, according to Cordros daily market update.

The update says majority of the indices closed in green, except the Industrial Goods index that declined marginally by 0.02 percent. The Banking and Insurance indices closed higher by 0.70 percent and 1.13 percent apiece, following gains in the shares of Nigeria’s top tier lenders, Zenith Bank Plc and Stanbic IBTC Bank; both gained by 1.66 percent and 4.96 percent respectively. While insurers, Axa Mansard Insurance Plc and NEM Insurance Plc appreciated by 4.49 percent and 9.09 percent each.

 The Oil & Gas and Consumer Goods indices appreciated 1.01 percent and 1.49 percent apiece, on the back of gains recorded in the shares of oil marketing majors, Mobil Nigeria Plc and Total Nigeria Plc by 4.29 percent and 1.10 percent respectively; while food and beverage producer, Cadbury Nigeria Plc and Honeywell Flour Mills Plc gained 7.98 percent and 4.88 percent each, while the loss recorded in the shares of cement manufacturer, Lafarge Cement Wapco Plc which depreciated by 0.12 percent pulled the Industrial Goods index down by 0.02 percent.

At the close of the session’s trading on the Nigerian bourse, market breadth was positive, with 30 gainers and 18 losers recorded, according to data from the NSE. Publishing firm, University Press Plc emerged the top gainer with a gain of 0.37 kobo per share; while brewing giant, Guinness Nigeria Plc topped the losers list with a loss of N4.30 per share.

In terms turnover, total volume traded on the Nigerian equities market fell by 5.29 percent to 131.74 million shares, valued at N1.25 billion and exchanged in 2,257 deals.

“We expect sentiments to remain positive in tomorrow’s session,” the Cordros update affirmed.